The last date for filing the Service Tax return for the Quarter 2 (July-Sep 2012) was originally fixed as 15th of April 2013. Due to the difficulties faced by the assessees in filing the returns, the CBDT vide its Order No 2/2013 dtd 12th April 2013 has extended the due date for filing the Service […]
Service Tax Q-2 (2012-13) Last date for Return filing Extended…. Read More »
The Central Board of Excise & Customs vide its order No :- 1/2013-Service Tax dtd 06th March 2013 has extended the due date for filing the Service Tax returns for the period from July 2012 – Sep 2012. As per the earlier order, the due date was 25th March 2013. Now , this time limit
Due Date for Service Tax Returns (for July-Sep 2012) Extended Read More »
BUDGET 2013 – IMPORTANT TAX PROPOSALS (Financial Year 2013 -14) DIRECT TAX PROPOSALS v Tax Slab Rates: ü Individuals: Tax Rates for the Individuals will remain the same as per last Financial Year 2012-13, which is as follows :- Tax Rates for all the Individual Assessee below 60 years of age
Budget 2013 – Tax Proposals Read More »
The following are the Various Statutory Obligations for the month of December 2012. Payment of Advance Tax The last date for Payment of Advance Tax (3rd Instalment in case of Companies & 2nd Instalment in case of Non Companies) for the A.Y.2013-14 is 15th December 2012. Click here to make Advance Tax Payment online. Click here to download Challan for
Statutory Obligations for the month of December 2012 Read More »
The Central Board of Excise and Customs has released a handbook on “Taxation of Services” under the new Service Tax regime. This hand book covers the entire provisions and important notifications with regard to new Service tax provisions under “Negative List” approach of taxation of services. For the benefit of our readers, we provide below
Taxation of Services – An Educational Guide Read More »
The service tax department has issued new circular spefifying new accounting codes under the Negative List approach to taxation of services. As per this circular, the Accounting Codes to be used for payment of service tax under Negative List approach, w.e.f 1st July 2012 has been specified. The relevant circular is reproduced below :- [gview
The value for the purpose of arriving at the Service portion in the amount charged at the restaurants (or) by outdoor caterers in their service provided will be determined as under :- Sl. No. Description Percentage of the total amount (1) (2) (3) 1. Service portion in an activity wherein goods, being food or any
New Valuation rules in respect of Services rendered in Restaurant / Outdoor catering Read More »
The Ministry of Finance vide its Notification No 24/2012 dtd 6th June 2012 has notified the rules for Determination of Value of Service Portion in the execution of the Works Contract. These rules are notified through Service Tax (Determination of Value) Second Amendment Rules, 2012 which will be applicable from 1st July 2012. According to
New Service Tax rules for Valuation in Works Contract Read More »
The Finance Act 2012 had proposed major changes in the Service Tax (including the negative list approach) provisions. As the Finance Act has received the assent of the President of India, the new provisions have come into effect. Accordingly, the Government of India has notified the dates from which these new provisions will be made
New Service Tax provisions to be applicable from 1st July 2012 Read More »
The Government of India vide its notification No 16/2012 dtd 29th May 2012 has notified the new Service Tax (Settlement of Cases) Rules, 2012. The extract of the Notification and the relevant rules are reproduced below :- [gview file=”http://bssridhar.com/blog/wp-content/uploads/2012/05/st-16-2012.pdf”]
Service Tax (Settlement of Cases) Rules, 2012 notified Read More »
The Government of India has vide its Notification No 17/2012 notified the Service Tax (Compounding of Offences) Rules, 2012. The relevant notification is reproduced below :- [gview file=”http://bssridhar.com/blog/wp-content/uploads/2012/05/st-17-2012.pdf”]
Service Tax (Compounding of Offences) Rules, 2012 Notified Read More »
As per the Finance bill 2012, the rate of Service Tax has been increased from 10% to 12%. The effective rate of Service Tax to be charged has been increased from 10.3% to 12.36%. This will be effective from 1st April 2012.
Effective date for Increase in Rate of Service Tax Read More »
The last date for Payment of Service tax pertaining to the month of March 2012 and for Quarter ending March 2012 is 31st of March 2012. In case of payment by Challan GAR 7, click here to download the Challan In case of e-payment of Service Tax, Click here to make the payment online.
Last date for Service tax for March 2012. Read More »
The following are the various statutory compliances for the month of March 2012 Payment of Service Tax (Feb 2012 Due) The last date for Payment of Service tax pertaining to the month of Febraury 2012 is 5th of March 2012. In case of e-payment, the due date is 6th of March 2012. In case of
Statutory Compliances for the month of March 2012 Read More »
The Last date for filing the Half Yearly Service Tax returns in respect of Half year ended 30th September 2011 has been extended again from 06.01.2012 to 20.01.2012. The relevant Circular is reproduced below. Those assessees who have not filed their returns can make use of this opportunity. Cick here to send your enquiry for
Service Tax Half yearly return filing – Last Date extended again Read More »
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